First Trust Advisors LP boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 30.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,066 shares of the real estate investment trust’s stock after buying an additional 22,050 shares during the period. First Trust Advisors LP’s holdings in Lamar Advertising were worth $6,920,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Honeywell International Inc. purchased a new position in shares of Lamar Advertising during the first quarter worth $1,718,000. Great West Life Assurance Co. Can increased its stake in Lamar Advertising by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 48,822 shares of the real estate investment trust’s stock valued at $3,648,000 after buying an additional 1,933 shares during the period. Wells Fargo & Company MN increased its stake in Lamar Advertising by 0.5% in the first quarter. Wells Fargo & Company MN now owns 1,238,391 shares of the real estate investment trust’s stock valued at $92,558,000 after buying an additional 6,141 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Lamar Advertising by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 28,880 shares of the real estate investment trust’s stock valued at $2,158,000 after buying an additional 400 shares during the period. Finally, IFP Advisors Inc increased its stake in Lamar Advertising by 33.9% in the first quarter. IFP Advisors Inc now owns 7,150 shares of the real estate investment trust’s stock valued at $534,000 after buying an additional 1,812 shares during the period. 85.10% of the stock is owned by institutional investors and hedge funds.

Shares of Lamar Advertising Company (LAMR) opened at 66.15 on Tuesday. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Lamar Advertising Company will post $3.11 earnings per share for the current year.

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Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Wells Fargo & Company downgraded shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $72.00 price target (down from $73.00) on shares of Lamar Advertising in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $73.40.

About Lamar Advertising

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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